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Housing Development Finance Corporation Limited (HDFC) on Monday said its net profit for the quarter ended March 2022 rose to Rs 3,700 crore, registering a growth of 16.4 per cent year-on-year.The company's profit before tax for the quarter ended March 31, 2022 stood at Rs 4,622 crore compared to Rs 3,924 crore in the corresponding quarter of the previous year, representing a growth of 18 per cent. The profit after tax stood at Rs 3,700 crore in the fourth quarter of 2021-22 as compared to Rs 3,180 crore in the corresponding quarter of the previous year.The profit before tax for the year ended March 31, 2022 stood at Rs 17,246 crore compared to Rs 14,815 crore in the previous year, representing a growth of 16 per cent, HDFC said in a statement.After providing for tax of Rs 3,504 crore (previous year: Rs 2,788 crore), the profit after tax for the year ended March 31, 2022 stood at Rs 13,742 crore compared to Rs 12,027 crore in the previous year.The Board of Directors reviewed the performance of the Corporation and after assessing the financial performance of the Corporation, its liquidity position and capital buffers, recommended a dividend for the year ended March 31, 2022 of Rs 30 per equity share of face value of Rs 2 each compared to Rs 23 per equity in the previous year, HDFC said. The dividend pay-out ratio is 40 per cent.During the year ended March 31, 2022, individual approvals and disbursements grew by 38 per cent and 37 per cent, respectively compared to the previous year.In the month of March 2022, the Corporation recorded its highest monthly individual disbursements ever. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states which were not there in the current year.The demand for home loans and pipeline of loan applications continues to remain strong. Growth in home loans was seen in both, the affordable housing segment as well as in high-end properties.The increasing sales momentum and new project launches augur well for the housing sector. 91 per cent of new loan applications were received through digital channels. In the fourth quarter of the financial year under review, the non-individual loan book recorded growth, with a good pipeline of loans from lease rental discounting and construction finance, HDFC said.As at March 31, 2022, the assets under management (AUM) stood at Rs 6,53,902 crore as against Rs 5,69,894 crore in the previous year.As at March 31, 2022, individual loans comprised 79 per cent of the AUM. On an AUM basis, the growth in the individual loan book was 17 per cent and growth in the total AUM was 15 per cent.During the quarter ended March 31, 2022, the Corporation assigned individual loans amounting to Rs 8,367 crore. Individual loans sold in the preceding 12 months amounted to Rs 28,455 crore. The Corporation also assigned standard, non-individual loans amounting to Rs 1,500 crore during the year.HDFC's net interest income (NII) for the year ended March 31, 2022 stood at Rs 17,119 crore compared to Rs 14,970 crore in the previous year, representing a growth of 14 per cent. The NII for the quarter ended March 31, 2022 stood at Rs 4,601 crore compared to Rs 4,027 crore in the previous year, representing a growth of 14 per cent.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Housing Development Finance Corporation Limited (HDFC) on Monday said its net profit for the quarter ended March 2022 rose to Rs 3,700 crore, registering a growth of 16.4 per cent year-on-year. ...